Mortgages

Abbey for intermediaries to bring back exclusives

Abbey for Intermediaries is to re-introduce mortgage exclusives through its broker channel after withdrawing them last month to help maintain service levels.

HiFX extends lending reach to cover the Caribbean

HiFX Mortgage Services, the fees free overseas mortgage brokers, has announced the addition of a Caribbean lender to its panel of providers. First Caribbean National Bank will finance properties across the islands and provide mortgages to expats in the Caribbean and UK residents.

AFB: Bank of England Financial Stability Report

The Association of Finance Brokers (AFB) has welcomed the publication of the Bank of England Financial Stability Report which states that the correction in the credit markets has gone too far and that risk appetite should return in the coming months.

AMI welcomes Bank of England's Financial Stability Report

The Association of Mortgage Intermediaries (AMI) has responded to the publication of the Bank of England's Financial Stability Report.

There is worse to come

David Kuo, Head of Personal Finance, says: "The recent mortgage approval figures from the Bank of England are further proof that the property market is in the midst of a severe downturn. A revival is unlikely until banks get their own houses in order.

Property values fall below last years for the first time

Nationwide's house price index reports a fall in value of 1.1% in April, which in addition to the falls of the last six months, eats up any equity that the average home has increased by in the past 12 months, leaving the final value at 1% lower than this time last year.

Economy will slow, but lenders expect UK to avoid recession

Lenders and intermediaries agree the economy will continue to slow, but respondents to IMLA's latest member survey think the UK will avoid a full-scale recession.

Prudential reports market leading lifetime mortgage sales

Prudential has reported a strong first quarter performance for its lifetime mortgage business, and believes its sales during this period made it the number one provider in lifetime mortgages.

CML: Bank of England mortgage approvals data

Responding to mortgage approvals data from the Bank of England, CML director general, Michael Coogan said: "It comes as no surprise that approvals for house purchase have continued to decline. This will result in a substantially lower level of housing transactions in 2008 than we saw last year.

Mortgage lending continues to slow

The increase in total net lending to individuals in March (£8.2 billion) was below the increase in February and the previous six-month average, according to figures from the Bank of England (BoE).

Natwest & RBS cuts rates on new fixed and tracker mortgages

With mortgage rates continuing to rise across the industry, RBS today announces that from Wednesday, 30th April, it is to cut rates by up to 0.30% - with the prices of all new fixed and tracker mortgages lowered by at least 0.10%. These deals are available through RBS and NatWest branches.